Area group chosen for riverfront plan

Partners to build up to 20 condos in Mishawaka.

Partners to build up to 20 condos in Mishawaka.

February 25, 2006|SUE LOWE Tribune Staff Writer

MISHAWAKA -- In the end, it seemed to be the fact that they're local that got Charles Trippel and state Rep. Craig Fry, D-Mishawaka, the nod to develop condominiums overlooking the St. Joseph River downtown. It will be the first development in the area called River Center that's in the old heart of the city. The 1.3 acres on Mishawaka Avenue overlooks the St. Joseph River and the Robert C. Beutter Riverfront Park and the former Ball Band/Uniroyal property on the south side of the river. Members of the Mishawaka Redevelopment Commission voted to negotiate an agreement with Riverwalk Townhomes LLC, a business created by Trippel and Fry, to build 18 to 20 condominiums on the property. "I'm familiar with some of these people," said commission member Mike Compton. "I work in construction. I have known these people most of my whole life." "I guess like Mike I'm more comfortable knowing the people responsible will be here every day," said Wayne Troiola, another commission member. He said he also was pleased that one of the developers would be living there. Fry was not at the meeting but confirmed Friday that he plans to buy one of the condominiums. Don Schlunt, also on the commission, said he drives down Mishawaka Avenue every day and he likes the fact that only two stories of the condominiums planned by Riverwalk Townhomes will be visible from that side of the development. Everyone also liked the proposal from Riverstone Partners, a Noblesville, Ind., group, and Gary O'Dell, another commission member, pointed out there's much of River Center left. "It's not a total strikeout," he said. Neither the commission's staff nor anyone else in Mayor Jeff Rea's administration, came with a recommendation. They left the decision up to commission members. They did give them a comparison between the proposals that noted that while the local group offered only $1 for the property and the other developers offered $100,000, the local group planned to spend more on construction. As a result, the development proposed by the local group would pay about $160,000 more in taxes over 10 years. Trippel and Fry plan to sell the condominiums for a minimum of $250,000 each. Trippel said marketing studies confirm that condominiums in that location can be sold for that price. "I will guarantee you it will be done right. It will be done on time. It will be successful," he said. "It will work. I'm positive of that." After the meeting, he said he hopes to have reached a final agreement with the city in the next 30 days so his staff can start marketing the project. The time construction will begin depends on when the city starts construction of the Riverwalk behind the property. And that depends on permits from the state. Staff writer Sue Lowe: slowe@sbtinfo.com (574) 235-6557